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BIH: Progress or More Delays?
Today marks the final day Birmingham International Holdings have to make an announcement to the HKSE: To either confirm the date of twice-delayed EGM to approve the measures to allow Trillion Trophy Asia to take control, or to once again delay. Which will it be?
I can already hear the cynicism from the more pessimistic fans out there; how many times have we seen delays in the past. It’s not hard to understand why people might be cynical, after all this Receivership and attendant takeover has dragged on for seventeen months now – that’s eight league wins or four managers for the mob across the expressway.
And yes, it’s easy to paint the Receivers as dragging their heels to continue earning their coin; after all, someone must be paying their fees and as the clock ticks on it’s easy to think those fees are ticking ever upwards.
However, the few noises I am hearing from Hong Kong is that it’s not Ernst and Young who are dragging their heels; the word is that the stock market are using this as an opportunity to query every minute detail that might have been incorrect under the former administration and to ensure that those errors have been put right.
There is a certain irony that while things were going to pieces the questions didn’t seem to be asked; now they’re being put right it’s become all important – but from everyone I’ve spoken to in HK this is the way things work.
The big question is whether this will be the day the next step is taken, or whether it will be another one of frustration. I cannot honestly say one way or another which it will be; I’m reassured things should now be sorted out but I will admit my cynicism and that I will only believe it when I see it.
If the delays are over, we should see two things – firstly, an announcement of when the EGM is (I’m expecting mid August now); and confirmation of the resolutions being put forward. As the resumption of trading in shares won’t immediately follow the EGM’s approval the Receivers will remain in charge but I think it’s possible we should see some indication of the three directors TTA are going to put up to run the company once Ernst and Young’s work is done.
Two of them are known and I’ve spoken of them before – Paul Suen Cho Hung and Daniel Sue Ka Lok. I’m given reason to believe that the third is someone else I mentioned when I was out in Hong Kong – Ms Chan Yuk Yee; although I cannot confirm that until an official announcement is made.
I’m hopeful of progress; however should there be more delays I fear the cynicism will only continue to grow. Let’s hope everyone is happy and we can move forwards.
Edit 14:30 19th July.
Delays it is – 5th August now. And if you weren’t convinced it was a mess that was going to take an age to sort out … try reading this.
Tags: BIH, Chan Yuk Yee, Daniel Sue Ka Lok, Ernst and Young, HKSE, Paul Suen Cho Hung, The Takeover, Trillion Trophy Asia
67 Responses to “BIH: Progress or More Delays?”
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Great article Dan.
Yes it’s been a long haul which hopefully will come to an end today.
I’m more concerned about the squad which at the moment on balance is no better than last year.
Just me opinion of course..
For those of us who read your blog on a regular basis Dan I think we all understand why this has taken so long to sort however frustrating. For me as long as it’s all sorted by the january transfer then if we need to strengthen hopfully funds will be available. CY is now officially out of the picture for good & things seem to be going well in pre season, plenty of hope for the future. KRO
Agree.If it is another delay then I don’t really think it changes things that much with regard to what happens to us as a club.As long as everything is done so that we can strengthen in January I’m not that bothered.
Isnt it nice for an OP report not to have CY and PP at the heart of the discussion, just a simple thing like procedure and building blocks in the right place.
Lets hope this week becomes a week of happenings at BIHL and at the club.
As frustrating as its been, and the word very is an understatement. I’d much rather the foundations and building blocks be in the correct place and order for our continued growth. So if it’s another delay so what. We are finally moving forward in the right direction, just wish we could strengthen the squad now rather than possibly having to wait till January when really your playing catch up.
Yes very true.. Each and every bluenose has achieved that top Degree that any University can offer which is Patience. We could almost lecture in it.
it is a wonder we have not passed in caring Mitchell …KRO…
What an absolute hell hole that place is, populated it seems by two thirds of the worlds 3rd rate lawyers making a quick buck.
Tony
Mate, take a tip – sometimes it’s best to keep quiet than to show your ignorance with comments like that one.
Why can they not practice in London New York, or Paris, the right hand knows not what the left is doing. What happened to that brilliant women defending Carson? she got beat.
I’m totally pissed of with this whole sorry saga, talk about smoke and mirrors. FFS
Tony – that would be Clare Montgomery QC, one of the top barristers in the UK (not Hong Kong), who regularly fights cases (and wins) here in the UK. Carson’s case wasn’t just a judicial decision (as I said), but you haven’t taken that in.
You might be pissed off, but try getting your facts right, hmm?
On a lighter note i have crossed my fingers super glued them together ….put a chicken chow mein in the micro .and with me winning 4 prizes in 2 lotteries in the last 2weeks I am feeling lucky ….Get it in there HKSE….
Final day and no announcement?
Time is not up yet…
Why IS everyone taking it so calmly I’m pulling my hair out here.
Ernst & Young will not be busting a gut to hurry matters along as the longer it takes the more money they make so there will be very little pressure on BIHL.
It always seemed really strange to me why they granted a two year purchase option on the sale although I understand the mess that was left but sometimes I wonder if it would have been better to wipe the slate clean a year ago take the points hit and have the mandatory slate wiped clean of these crooks.
By now we would have had new owners and probably a nice pot of transfer money available.
I don’t think these guys have any interest in us fans or the club. They are only interested in investing as little as possible in the hope of getting into the Premier league as they wait for the price to rise before selling us to the best bidder. That’s what they do as a business and that’s why it has dragged out for such a long time. But well done Dan for digging for the facts and giving them a kick up the pants to get things moving
5 minutes past 8 pm hong kong….are we there yet ….
As I say every single time, you’ve got til 11pm HKT (4pm BST)…
Reading various reports regarding James Wilson. It appears he is out of Mourino plans and heading out.Interesting that we are being named with him by many pundits as a season long loan. If this is the case then I can see him doing well with us providing he is played in a proper formation.Also,credit where it’s due and GR will have that.
Re: Wison. Perhaps him knowing Chester will help. Re: E&Y I expect they can’t pull the wool over the eyes of TTA. Two years was given for a reason.
It’s been delayed again till Aug 3!!
My only reaction to this ongoing saga is a clear message to Gary Rowett. Just keep us in this division for another season as,I for one,will be eternally grateful. Off field activities imo will do nothing to aid our on field progress with uncertainty being the main word month after month. If we are due a further announcement by August 3.-how many of us would bet on a further delay. We are becoming a bit of a joke now-especially with all our neighbours appearing to be moving upwards.
clark managed too, with lesser quality players, and no money!
Yes took over a team that had finished 4th the previous season, got the funds to bring in the likes of Ambrose, Mullins and Lovenkrands and two years later we were on the brink of relegation to the Football League – great times Mark.
And there was I thinking the vile were moving downwards after relegation and not upwards .. Seriously though it’s getting a little bit annoying the longer it goes on but we can’t buy anyone till January anyway so let’s not lose to much sleep over it and just carry on till it all gets sorted . KRO
Seems to be just another laborious chapter in the ongoing saga. This is really trying patience but then no point in get hot under the collar for something I have no control or impact on.
interestingly Willson has been left out of manure squad heading for China. A sign maybe that some other blues websites stating that 1 signing will be “over the line this week”?
Dave and Stevie-I admire your patience and calm view of it all. If only I had your belief that by January we will have the spending power etc.after the successful completion of the takeover. As of now I am hoping all season ticket renewers who have bought in all good faith will not be disappointed. Daniel expected people like me to be sceptical by a further delay and he been proven right.
Its not the 5th Aug at all, its a delay which is quite normal with such a massive set of rules to satisfy all parties ie Independent Financial Advisers, The Hong Kong Stock Exchange, Courts, both in H/Kong and C/Islands. I would hazed a guess that the 5th Aug has been given because they will not want to delay yet again so that’s a sort of worse case scenario as it says in the Announcement on or before the 5th Aug. It could be they need another week so have said a further almost three weeks could be before end July.. Its a delay from now till the 5th.
My winning run seems to come to an end …one worrying thought comes to mind is that with share prices falling over brexit that the HKSE might delay for quite a while till share prices rise to a higher value ….I hope not…with players still need signing in January …it might not happen though we hope …
With the crack down on corruption from the “Mainland” being strictly enforced [Yeung being sent back to jail as an example], E&Y, B.I.H ,TTA AND HKSE! must make sure everything is above board with NO chance of anyone claiming corruption is involved with the relisting [that should be the cleanest deal ever done !!], if it takes a little longer, so be it, at least by the time its over and done with, there wont be anything swept under carpet like before [I hope !]
What’s the saying “swings and roundabouts ” .. We’ve had enough roundabouts so now it’s about time we done a bit of swinging …. Looking forward to Walsall tonight in the 28 degrees heat !! .. KRO
oh well another mickey-mouse team playing against time to top up the sun-tan….haha
I don’t think Walsall would appreciate that mate concidering they made the playoffs to try and get to our level .. as for Bradshaw I think Barnsley is maybe is level ..and that’s below us but above Walsall and as for scoring a hat trick against us I think he’s got more chance of getting a hat only , as for the trick ime not so sure , maybe Fabbrini as one up his sleeve . :-) KRO
yeah dave they won 3-1 this evening, and fourth straight win in friendly looks like tom gone to better team. maybe hat-trick still on maybe………
fabbrini didn’t find a trick tonight hey dave ;/ against shrewsbury tbh dave our standard = tom anything else is pipe dream…..
well done to Barnsley for taking a punt on tom…every chance he probably score hat-trick against us, we see who’s will be laughing then.
Still us mark to be honest mate . KRO
Don’t you ever wonder why he has gone to Barnsley and no bigger teams went for him ?
Exactly what I thought. The fact he agreed a deal with a team that is very likely to be in the bottom 6 says it all about what level he thinks he is himself. No great loss – we can do much better.
Is it a case of the HKSE moving the goalposts or is it the fact that BIHL or EY can’t grasp what’s required of them . KRO
Good question!
Colin, Dan bothered his arse to provide you with a link to show you just what a complex mess this has been, why don`t you try reading it. … here it is…try reading this.
you`ll have to scroll up to it.
this entanglements only just started…..
Imo, unless Rowett intends playing 2 up front, Wilson would be a waste of money. He’s not a lone striker. If it’s one up front (as seems likely) then it’ll be Donaldson with any new man warming the bench. We might as well sign Warwick Davis for all the use he’ll be.
I agree with that. Wilson is 20 and needs experience. Havent we got enough young forwards that need experience? Why would we give that up to another club and have ours sitting on the bench and in the youth teams. Does not make sense. We need to spend whatever money we have on a star goal scoring Imbrahimovich. And the Don can play a lesser but important role.
TP tell that to GR lol
Oh well when i was a lad we suffered many chinese burns as they called it . With a twist one way and a turn the other ..We can take it …so come on HKSE let’s get this show on the road ….We have a dream …..KRO
My view on this takeover, is that it’ll happen when it happens. They ain’t gonna rush themslves for the likes of us. They don’t seem overly concerned, so neither am I.
Exactly . KRO
I will be happy when the deals done . But it’s not done yet …I Also commend yor faith in people but perhaps some of us have more ambition after 5 years of struggle ….
Am I the only one not feeling the same excitement as this time last season and I find that very strange tbh, because last year we still had the likelihood of Carson returning and if we were going to have to sell players. Now we can see the end of the tunnel and the prospect of new signings all be it maybe in Jan window but none the less its still don`t feel quite the way it should. Tbh I would like the club (Mr Pannu) to be a bit more open with the Fans/season ticket holders and explain a bit more what we should be expecting this window even if its not good news at least we would be able to manage our expectations, it seems like the s/holders of bihl are all that matters and the people who support this club week in week out home and away are actually told very little if anything at all. BCFC is what really should be of a priority to bihl as it is its only asset to speak of and the supporters of this club should be treated with a whole lot more respect than what has been shown in recent months. I want more communications from the guy I have tried to show respect to and he did indeed once tell us he would talk to us more, sorry Peter but it seems like less to me. Sorry Dan I know this is off topic and hope you don`t mind thanks.
Zxcv.this is exactly why with the little communication we as fans get that the likes of Colin have their views. Distorted maybe but nevertheless deserve to be aired. By the way it is Panos not Pannu.
of course it is Mitchell, sorry I had just been talking about Pannu and had him on my mind. Thanks for pointing it out tho.
1) Panos Pavlakis, not Peter Pannu. Pannu is gone, remember
2) BIHL have a legal duty to the HKSE and it’s shareholders, not Blues fans. That’s the way it is and we have to lump it.
Your such a prat Dan always have been always will be.
And once again, you show your true colours zxcv
If you don’t like it, don’t read MY site, don’t comment on MY site. You’ve flounced before, time to do so again?
Thanks :)
Note to all – commenting is a privilege, not a right. This site is not a forum and is not an automatic space for you to air your views. Please do not treat it as such…
Our world of blues differs slightly in each others lives . All blues fans want what’s best for the club and we all should be pulling on the same end of the rope . And air our comments to get a happy medium …but these are very trying times …and strengths of character will differ slightly . But hey we all love Dan’s blog..KRO
shrewsbury 1- blues 0
blues 1 walsall 1
bloody glad i was able to top up my tan mickey mouse teams
Actually, let me put something straight.
Commenting on this page is a privilege, not a right. OP is my site, my views, my articles. If you don’t like that, feel free to start your own website and publish your views there.
Thank you.
I think there will be many red faces over these results Mark…. still we move on …..
2 squads… 1 goal. Glaringly obvious where our problem lies. And one up top doesn’t help
don`t worry staffs he`ll be gone by Christmas mate.
imo the first five games of season could be a telling point….should we lose at home to vilers quick sand could take him.
Looks like Wilson will go to Fulham.
Oh well its been many years since we played the likes of Hartlepool and Grimsby Town – I will get the A to Z out for season 2017/18!